Ivanhoe Mines Reports Construction of Oyu Tolgoi Copper-Gold Complex on Schedule (IVN)

Robert Friedland, Executive Chairman of Ivanhoe Mines Ltd. IVNIVN, and John Macken, President and Chief Executive Officer, said today that full-scale construction of the company's Oyu Tolgoi copper-gold complex is proceeding on schedule and the first ore now is expected to be processed during the fourth quarter of 2012. An independently prepared Integrated Development Plan for Oyu Tolgoi released by Ivanhoe Mines in May 2010 projected that the Oyu Tolgoi concentrator initially would process 100,000 tonnes of ore per day (36.5 million tonnes per year). It also estimated that the average annual production at Oyu Tolgoi during the first 10 years of operation would exceed 1.2 billion pounds (544,000 tonnes) of copper and 650,000 ounces of gold.